Robert Wan Optimistic but Sells Only 40% at Auction

Robert Wan, chairman of Tahiti Perles, the largest producer of Tahitian black cultured pearls with private ownership of eight pearl farms, says he's optimistic about the future market for Tahitian pearls, but he's holding back on lowering prices and is leaving 60% of his auction lots unsold. Last December, Wan announced a reduction in his pearl production for the first six months of this year, "in order to set an example for combating the current pearl industry situation." "It was a very serious decision," reported Wan, who says his goal is to improve quality and, of course, prices. According to Wan, there are too many Tahitian pearls in the market. Production is too high. After trying to boost production over the past 25 years, Wan now is holding back, hoping to show other farmers the direction they need to take to stabilize the market. So even if the rest of the farms continue at t

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